Fifteen Group Acquires FedEx Distribution Facility in Miami, FL
MIAMI -- July 21, 2014
Miami-based Fifteen Group has completed the $19 million acquisition of 200
South Miami Avenue, a 6-story, 85,000-square-foot distribution and logistics
facility 100% occupied by FedEx Corporation.
Constructed in 1999 as a central distribution hub for FedEx, the property is
centrally located in Downtown Miami in an area of the urban core that is
undergoing a complete revitalization. FedEx is in its 15^th year at the
“This was a unique opportunity to acquire an asset in a central location with
a high-quality tenant and strong in-place yield,” said Mark Sanders,
Co-Founder and Principal of Fifteen Group.
200 South Miami Avenue is situated in the heart of downtown Miami directly
adjacent to the Third Street Metromover Station, and is flanked on the north
and south by entrance and exit ramps for I-95. The 1.22-acre site is within
walking distance to the highly anticipated Miami World Center, All Aboard
Florida Grand Central Station, and Brickell CityCentre. In addition, it is
located near excellent existing entertainment amenities such as the American
Airlines Arena, Mary Brickell Village, and Bayfront Park.
“The acquisition provides an opportunity to own a dynamic asset with a Fortune
500-credit tenant in the heart of Downtown’s bustling core,” said Justin Toal,
Chief Investment Officer of Fifteen Group.
About Fifteen Group
Fifteen Group is a family-owned real estate investment firm based in Miami,
Florida. Fifteen Group's investment activities are opportunity-driven,
value-added acquisition and development projects. Historically, Fifteen Group
concentrated primarily on the multifamily sector, but has evolved to include
expertise in the office, retail, mixed-use, industrial, and land development
sectors. Currently the firm invests in all major real estate asset classes and
in real estate secured debt. Fifteen Group (www.fifteengroup.com) also has
offices in Los Angeles, CA.
for Fifteen Group
Steve Sugerman, 310-974-6680
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